Company shifting resources in Minnesota, asks for more money in Wisconsin
Aug. 3, 2009 — Xcel Energy subsidiary Northern States Power Co. filed an application with the Wisconsin state Public Service Commission for a $29 million increase to its electric base rates.
Xcel claims higher fuel costs and investments in cleaner energy sources and transmission equipment as the reasons behind the request. The energy company is looking to invest $900 million in wind farms in Minnesota and North Dakota, $414 million in upgrades to nuclear plants and $220 million in transmission equipment.
The company wants to add 250 megawatts of wind power capacity before a federal production tax credit expires at the end of 2012. Xcel generates about 10 percent of its electricity in Minnesota from wind power but needs to an additional 1,100 megawatts of wind power by 2020 to meet a Minnesota renewable energy mandate.
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